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Aravindan

Kottayam April 20 The declines in trend-setting global indices and the domestic fundamental factors continued to hammer rubber prices on Friday. In the physical front, RSS 4 declined to Rs 86 from Rs 87 and Rs 86.50 a kg respectively at Kottayam and Kochi. The market lost on lack of buying interest though there was no panic selling in the main marketing centres.

Futures better

In futures, rubber turned better on NMCE. The prices were weak initially since all TOCOM contracts finished in red on renewed selling pressure but improved in a late buying coupled with short covering, sources said.

The May contract firmed up to Rs 86.98 (86.59), June to Rs 90.06 (89.37), July to Rs 92.40 (91.48) and August contract to Rs 92 (91.01) per kg for RSS 4.

The volumes totalled 1,857 (2,172) lots. Meanwhile the May contract finished weak at Rs 87.70 against Rs 87.88 a kg.

The May futures for RSS 3 moved down to 274.7 yen (Rs 96.98) from 277.5 Yen a kg at TOCOM. Its spot improved to 100.77 from Rs 100.11 a kg at Bangkok.

Spot rubber prices were (Rs/kg): RSS-4: 86 (87); RSS-5: 85 (86); ungraded: 84 (85); ISNR 20: 85.25 (86.25) and latex 60 per cent: 63.65 (64.20).

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